L'Oreal posted 8.1% sales growth in the fourth quarter, a touch slower than in the previous three months, with firm demand in the United States and Europe helping to offset the dent from coronavirus disruptions in China.
The cosmetics company, which sells Maybelline mascara and CeraVe skincare, recorded sales for the last three month of 2022 of 10.3 billion euros ($11.1 billion), in line with analyst expectations, according to Refinitiv data.
The 8.1% growth rate for the three months to end-December compared with a 9.1% increase in sales in the third quarter.
Overall revenues were boosted by 9.4% like-for-like growth in the United States and 8.1% growth in Europe, although the company said it saw a "drastic slowdown" in China in the second half of the year.
L'Oreal grew faster than the market average across all its regions, Chief Executive Nicolas Hieronimus told CNBC's Charlotte Reed in Paris, with Europe proving a "pleasant surprise."